Fixed term savings for your business

Our Fixed Term Deposits (FTDs) give you attractive rates of interest, offering security, commercial advantage and peace of mind. If you’re looking for competitive, fixed-term deposits for your Business or Trust account, we currently offer a range of investment terms and options.

We offer GBP and USD Business Fixed Term Deposit Accounts.

Good For

Saving when you know you will not need access to the funds for a fixed period

Not Good If

You may need access to your funds before the fixed term has ended

More Information

What is the interest Rate?

It is a variable rate, with the rate as at 20.09.21 shown below:

GBP Fixed Term Deposits

Tier	Interest Rate (AER/Gross)
1 Month	0.05%
3 Month	0.10%
6 Month	0.15%
1 Year	0.80%
2 Year	1.22%
3 Year	1.82%
4 Year	1.82%
5 Year	2.05%
7 Year	2.05%

GBP Fixed Term Deposits

Tier	Interest Rate (AER/Gross)
1 Month	0.25%
3 Month	0.35%
6 Month	0.60%
1 Year	0.75%

Rates correct as at 10.11.2021

You can choose to have your interest paid monthly (for 1, 2, 3, 4, 5 and 7 year FTD), annually (for 2, 3, 4, 5 and 7 year FTD), or maturity of the deposit. Please refer to Interest Rate Sheet for Gross Rates on different interest payment options.

Interest is calculated daily and credited monthly, annually, or at maturity of the deposit depending on your selection. This cannot be amended once the selection is confirmed.

Interest will be paid out to an account nominated by you at the time of account opening. This account must be in your name.

Interest is not added to your principal amount at the selected frequency unless you have selected interest payment at maturity.

Can UBL UK change the interest rate?

No. This account has a fixed rate of interest so the rate will not change during the term.

What would the estimated balance be at the end of the term based on the minimum required deposit?

Below is an example of what the future balance might be after interest has been paid.

GBP FIXED TERM DEPOSITS TERM	MIN. DEPOSIT	INTEREST RATE (AER)	BALANCE AT THE END OF TERM
1 Month	£2,000	0.05%	£2,000.08
3 Month	£2,000	0.80%	£2,000.54
1 Year	£2,000	0.15%	£2,016.00
2 Year	£2,000	1.22%	£2,048.80
3 Year	£2,000	1.82%	£2,111.20
4 Year	£2,000	1.82%	£2.149.62
5 Year	£2,000	2.05%	£2,213.58
7 Year	£2,000	2.05%	£2,305.27

USD FIXED TERM DEPOSITS TERM	MIN. DEPOSIT	INTEREST RATE (AER)	BALANCE AT THE END OF TERM
1 Month	£2,000	0.25%	$2,000.42
3 Month	£2,000	0.35%	$2,001.75
6 Month	£2,000	0.60%	$2,006.00
1 Year	£2,000	0.75%	$2,015.00

Assumptions taken for above calculations;

Calculations based on minimum deposit of £2,000
No change in the amount (no deposits, no withdrawal)
No change to the interest rate during the fixed term
Interest payment on maturity assumed

These projections are provided for illustrative purposes only and do not take into account individual circumstances.

Can UBL UK change the interest rate?

Yes.

As this account pays a variable rate of interest, the rate can change over time. For example we might review the interest rate if the Bank of England bank rate changes. We’ll always let you know of any planned changes to the rate.

What would the estimated balance be at the end of 12 months based on a £40,000 deposit?

A deposit of £40,000 will generate an estimated balance of £40,095.00

Interest in this Account is paid on incremental balances. This means that a balance of £40,000 will attract an interest of 0.20% on the first £9,999 and 0.25% on the remaining £30,001.

This estimate is for illustrative purposes only and do not take into account individual circumstances.

Assumptions taken for above calculations;

No change in the amount (no deposits, no withdrawals)
No change to the variable interest rate
Interest paid annually

How do I open and manage the Account?

Eligibility:

You must be;

Aged 18 or over
Have proof of identity

Minimum/Maximum Balance:

There is no minimum balance

How to open the Account:

In order to apply for the account, you will need to Download the Application Form, complete and then return it along with verified copies of your Photo ID and either a Bank Statement or Utility Bill with your home address dated within the last 3 months in the following ways:

Via post: FREEPOST: RSSA-GJRS-KBCT, UBL UK Central Operations, 391-393 Stratford Rd, Birmingham B11 4JZ
In branch: Visit one of our branches

You can contact our Customer Services Team on 0121 753 6000 Monday to Friday between 9:15am and 5:15pm for more information.

Please make sure that you read the Business Banking Terms and Conditions before you apply for this Account.

More information about ID and Verification can be found here

Additional Information

This account can be held in single or joint names.

Some business transactions will incur a fee, the fees attributed to this Account can be found in the Business Banking Schedule of Charges

The Account can be opened by Sole Proprietors, Limited Liability Partnerships, Trusts and Limited Companies.

How To Apply

Get In Touch

Complete our online Enquiry Form and a member of the team will be in touch.

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